;   Medical Translation Insight: Turning China into a world class pharma market - ForeignExchange Translations

Turning China into a world class pharma market - medical translation
The excitement over the "Chinese opportunity" is palpable. While healthcare reforms are not as fast as one would like, progress is being made.

This is not just second hand information: Just about every one of our clients (drug and device companies alike) lists China at the top of their global growth strategies.

The following graph shows what the excitement is all about:
Turning China into a world class pharma market - medical translation
But as PharmaExecBlog notes, while these incredible growth statistics make China the centerfold in Big Pharma's global playbook lies a sobering fact: registering a new drug for sale in China "is still a slow, dimly lit game of chance".

While an overhaul of the Drug Administration Law is pending and has been cited as a priority by the Chinese government, stakeholders are calling for further changes to modernize China's "dated" regulatory approval system. The wishlist is described in some detail in the PharmaExecBlog article. Much of it centers around transparency - of procedures, around IP issues, and for the entire approval process.

Creating a modern regulatory framework is hard and takes time but pharmaceutical companies - just like medical device manufacturers - are betting that the reforms are real and will happen.

For medical translation professionals, this provides further evidence of the importance of China to drug companies - and medical translators. Now go brush up on your Chinese!


ForeignExchange Translations provides specialized medical translation services to the world's largest medical device and pharmaceutical companies.
 

2 Comments:

  1. language translation services said...
    Well changes in translations are a matter of personal preference or ignorance on background knowledge, and you may find yourself spending a lot of time just redoing the versions, when it was often only matter of opinion.
    Karolina Karczmarek-Giel said...
    "Now go brush up on your Chinese!"

    It's true that learning Chinese, especially Mandarin, could be a way to open one's business to this huge market.

    Good luck to us all!

    Karolina
    Office Assistant
    www.wantwords.co.uk








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